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Multistate Society Registration

What Is A Multistate Society ?

Protecting the interests of the economically poorer segments of society is the Co-operative Society’s primary goal. Every type of organization’s main motive whether a sole proprietorship, partnership, or joint stock company, is to boost earnings. This kind of group is seen as a democratic structure run for the benefit of its members. The underlying principle is “All for each and each for all.” Both self-help and mutual aid are involved.

Although cooperatives fall under the purview of the state, there are other societies with members and operational territories that span multiple states, including those for milk and sugar, banks, milk unions, and others. To regulate these cooperatives, the Act was passed. For instance, the majority of sugar mills in the areas near the border between Karnataka and Maharashtra get their cane from both states.

The various cooperative societies felt the need for an Act to codify and amend the law relating to cooperative societies, with objects not limited to one State and serving the interests of members in more than one State, to facilitate the democratic formation and functioning of co-operatives as people’s institutions based on self-help and mutual aid, to enable them to promote their economic and social betterment, and to provide functional autonomy. The Multi-State Cooperative Society Bill was introduced in Parliament in order to accomplish the goal.

After being approved by both Houses of Parliament, the bill was signed into law by the President on July 3, 2002, and it became the Multi-State Cooperative Societies Act 2002. (39 of 2002). They are registered under the MSCS Act and draw their membership from both states. All the states in which they do business are represented on their board of directors. The law clearly states that no state government official can have any authority over these societies, and that the central registrar has administrative and financial control over them

Documents Required For Multistate Society Registration From Director :

  • Form A, signed by 90% of the Promoter members, must be submitted with statement A and the Registration Application in quadruplicate.
  • Members of the Promoter list.
  • Bank Statement.
  • a thorough explanation of how society operates.
  • 4 copies of the Society’s proposed bylaws.
  • Proof of registration fee payment.
  • Affidavits, indemnity bonds, and any other documentation requested by the Registrar must also be supplied.
  • The details will be entered by the registrar, who will also assign a serial number and provide a receipt as an acknowledgment of the application in Form “B” register.
  • Following registration, the registrar will issue a Registration Certificate and announce the Society’s registration in the Official Gazette.

Procedure For Multistate Society Registration:

The steps to registering a multistate cooperative society are as follows:

  • A minimum of ten people must be interested in starting a society.
  • A temporary committee must be formed, and a chief promoter must be chosen from among them.
  • The Society’s name must be chosen.
  • To reserve a name, a request must be made to the registration authority, and to confirm the reservation, a letter to that effect must be acquired. 3 months are allowed for a reserved name.
  • It is necessary to collect share capital and entrance fees from potential members.
  • According to the Registration Authority’s instructions, a bank account must be opened in the proposed Society’s name. Following this, the bank account must be funded with admission fees and share money, and a certificate from the bank must be produced in this regard.
  • After that, you must deposit your registration fees with the Reserve Bank of India and acquire a 1 Challan receipt.
  • To register a society, an application must be made to the appropriate Municipal Ward’s Registrar of Societies.
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